What inspired you to start your business?
The idea of Vinat was born on a rainy day after visiting one of our favorite vineyards outside of Barcelona. It clicked that there was a lot of frustration in the industry when it comes to wine. The end consumers in the US are often confused by how complicated buying wine can be, and the winemakers are often frustrated with how large US wine companies treat them. Through a budding love of wine, we recognized an opportunity to shake up an industry we're passionate about.
What’s your business USP?
Vinat is a sister-founded wine brand with thoughtfully made European wines topped with fabulously cheeky labels and easy pairings.
At Vinat, we're sourcing and branding wine from Europe (currently Italy and Slovenia) and selling in 35 states in the US. Currently, we have three wines: a Prosecco (Skinny Dip), a white (Out of Office), and a red (Cha Cha Cha).
Wine is approached differently in the US than in Europe. In the US, since the drinking age is 21 and there isn't this long history of wine, many people learn about wine later (when they are in their twenties or thirties). This is different than markets like Europe, where wine is ingrained in culture and history. Another key difference is that in the US, 60% of wine consumers are women (according to Forbes), but most people in the wine industry who make, source, and sell wine are men. My sister's background is in User Research and UX Design. She conducted extensive research before we launched a product and found out how wine is sold online today in the US, which is seen as intimidating and confusing, and that there's a lack of a user-friendly approach to selling wine online in the US.
We believe we are meeting our customers where they are at, instead of trying to change them. An example of this is our wine descriptions and pairings, which don't use lots of technical wine terms. We also offer unconventional pairings like binge-able shows, books, and Spotify playlists.
How many people do you employ?
We have a two-person team, Emily and me. We have worked with two outstanding MBA interns from IESE to help us with some projects.
However, one of the fantastic outcomes of all of the new AI products coming to market is the efficiency you can achieve with a small team. We leverage a lot of tools to be more productive (such as Otter.ai, Cove, and Grammarly). We also have done a good job of finding partners to work with in areas of the business that we aren't experts.
What part did your b-school experience play in developing your business idea?
IESE gave me the chance to have the space to think through business ideas and experiment in a low-risk environment. It was also amazing to have access to classmates and partners of classmates who have a lot of wine knowledge. One dear friend who came out of the MBA, Lulu, was president of IESE's wine club. She spent a lot of time playing devil's advocate with me when I was trying to learn about wine and taught me so much. My first-year MBA team has also been a great support network on this journey.
How do you draw upon the skillset developed at b-school?
One thing I noticed in my MBA was that many of my classmates focused a lot on technical skills, which can be important, but AI is changing how we can analyze large data sets. I have a background in finance, so I focused more on developing soft skills such as learning to navigate different cultures, negotiation skills, presentation, and understanding power dynamics.
How has your b-school network helped with your business development?
One of the reasons I picked IESE was because of the alumni. My business school network and alumni I've met have connected me with countless introductions that have been helpful for the business. My classmates have also supported me by being customers and supporting our company on social media.
What obstacles have you encountered along the way?
One of the biggest obstacles to starting a business and pursuing an atypical post-MBA track is the lack of community. Unless you have a lot of friends/classmates who are also founders, it's likely many of the people in your life won't understand the challenges you are facing as a new business owner. I've overcome this by connecting with alumni from IESE and my undergraduate university, Lehigh, who are also founders. I've also joined founder groups such as the Female Founder Collective's 10th House, where I have access to the community and founders who have solved similar problems that come up in my day-to-day life.
Where would you like your business to be in five years’ time?
I envision Vinat making American women more confident and excited about their wine choices. The US Wine Industry is facing a crisis right now because consumer behavior in the space is changing significantly with Millenials and Gen Z.
In the coming years, we will expand our ship to other states, continue to refine our offerings driven by customer research and expand our partnerships.
What advice would you give to someone thinking about starting their own business?
Focus on refining your soft skills. Before building Vinat I had roles primarily in Fortune 500 companies. At large companies, you get access to a lot of resources, and external vendors have to be helpful because your company gives them a lot of business. With a startup, you have to create your own resources, which are a low priority for most external vendors and partners. Soft skills are critical to negotiating good deals and convincing people to help you.
How would you describe a typical day at work?
For me, it's important to have a schedule and include fitness in my routine. As a founder, every day looks different, but the "anchor " items for me are starting the day with a workout and the daily touch-base meeting my sister and I have.
I wake up early, have breakfast, and attend a hot yoga class.
After Yoga, I check my emails, update my "to do list" and prioritize everything that I'm working on.
My sister and I have a daily morning "Touchbase" where we give each other updates, discuss things we are working on, and make decisions.
The rest of my day depends on the time of month and what we are working on. Usually, I try to schedule meetings back-to-back so that I have time in my day to do work - these may range from working with our US partners or discussing collaborations with other businesses.
I check my emails again at the end of each day (which is often fairly late) and make sure urgent items are closed out.
